ICO Detector #1: USAT, a blockchain incubator to protect and market intellectual property
We start a new feature: the ICO Detector in which we introduce interesting Initial Coin Offerings (ICO’s). In our first episode: USAT, the United Scientists Association of Technology.
Who is USAT Inc?
The United Scientists Association of Technology Inc. (USAT Inc.) was created in a response to the constant frustration which was experienced by the scientific community when attempting to bring their ideas to fruition. Not only scientists but all inventors face significant obstacles when trying to make an idea a reality. Generally, an idea has to go through many stages before it can ever be brought to market.
From idea to reality
These stages range from specialised technical assistance, to marketability studies to roll out strategies to logistics, all requiring injections of funding. Through these various stages, the idea becomes exposed to the people assisting the inventor, with little guarantee that they will not just simply steal or leak the idea for their own personal benefit. Unfortunately, even if an inventor is willing to sell off their intellectual property (IP) from the very beginning, it’s as simple as that to execute.
Intellectual property
In most cases IP will not be acquired by the buyer without significant progress in the development of the technology to prove its functionality, at the very least having working prototypes available as a proof of concept. At this point as an inventor, your problems have just started. In many jurisdictions around the world your IP is not considered as your IP if you thought of it whilst you were working for an employer, whose operations relate in any way to the invention itself.
University claims
Now imagine if you work at a university, which can more or less claim that every idea can somehow relate to one of their department’s operations… Not only that but they can make this claim years after you have terminated your employment with them! So you see, as an inventor not only are you alone but nearly everything is against you…
The answer to this: USAT platform
Out of this void and frustration, the scientist of the world united to form USAT Inc., an Australian organisation which at its core, values the wealth of innovation and believes that this innovation will drive the world forward in a positive way. The USAT platform assists innovators through every step of the commercialisation process, at all times protecting the sensitive information behind the IP.
Blockchain solution
This is achieved through a blockchain enabled platform that allows restricted, timestamped access to key individuals which provide both scientific and commercial expertise to the project as it progresses through the commercialisation pipeline. At the end of the cycle, the revenue generated through the sale of the product is perpetually injected back in to the platform for continuous development and expansion. USAT has proven that this system works in 2 ways.
Non-profit
Firstly, through the confidence which is placed on the platform by the scientific community, though the inundation of submitted IP and secondly thought the successful development of highly innovative products, which in most other cases would have been either lost or buried in the mind of the inventor. As a non-profit organisation, the interests of stakeholders overcomes the commonly encountered greed of corporate shareholders. Here all corporate systems have been designed to protect the value and interests of the inventors, USAT token holders, product customers and community, period!
Token sale
For more information about the USAT token sale or the flagship technology currently being deployed by USAT Inc. (the ultra-affordable and clean renewable energy project, Solar-wind technology), visit our website.
This ICO profile is part of a content partnership between Bitcoin Magazine NL and USAT.inc.
